High Stakes Tournament Series to Feature Six Events

Full Tilt Poker made their big announcement earlier today - the formation of a new high stakes tournament series called the "Onyx Cup".

The "Onyx Cup" series will feature a total of six events - five preliminary tournaments and a "Grand Finale".

The five preliminary tournaments will have buy-ins ranging from $100k to $300k. The Grand Finale will have a buy-in of $250,000 and an additional $1 million of added money.

The top three finishers in each "Onyx Cup" event will receive points that will count towards the Onyx Cup leaderboard. The "Onyx Cup Champion" will be the player who has earned the highest number of points at the end of the six event series. The "Onyx Cup" champion will receive the Onyx Cup and a luxury sports car.

Onyx Cup events are going to take place in the United States, Asia and Europe. The first event is slated to begin on May 11 in Las Vegas, shortly before the start of the 2011 World Series of Poker.

The "Onyx Cup" tournament series, which is "open to all comers", will have an estimated total combined prize pool of $30 million. The tournament series will be broadcast in more than 40 countries and 20 languages.

Qualifying for the "Onyx Cup" will begin on March 15th on Full Tilt Poker.